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Key Details
Sold Price $2,000,000
Property Type Commercial
Sub Type Retail
Listing Status Sold
Purchase Type For Sale
Square Footage 4,380 sqft
Price per Sqft $456
MLS Listing ID AR21057302
Sold Date 08/03/21
HOA Y/N No
Year Built 1977
Lot Size 0.270 Acres
Acres 0.27
Property Description
Excellent location on a busy main street. The adjacent building is Carl's Jr. This building has four units, all of which are fully occupied. Unit #147 is Tobacco World, which sells cigars, cigarettes and accessories. These tenants have been there for over 15 years and have good business. Unit #149 is Skyway Investment Corp., a real-estate company which has been there for over 7 years. Unit #151 is Jim's Check Cashing, a business that does check cashing and pay-day loans; and they have been there for over 30 years with consistently profitable business. Unit #153 is Mama's Kitchen, a noodle and dumpling restaurant that has been there for over 5 years. All the tenants pay base rent plus NNN (the tenants pay all the property taxes, insurance, maintenance, CAM, and management fees). The landlord's annual net income is $94,000. The capital rate is 4.7%. This building was built in 1977 and has been well-maintained and each unit is in good condition. There is a total of 21 parking spaces, 14 in front and 7 in the back of the building. Must see to appreciate.
Location
State CA
County Los Angeles
Area 605 - Arcadia
Zoning C2
Rooms
Ensuite Laundry None
Interior
Laundry Location None
Fireplace No
Laundry None
Building
Lot Description 2-5 Units/Acre
Story 1
Water Public
Others
Tax ID 5779016015
Acceptable Financing 1031 Exchange
Listing Terms 1031 Exchange
Financing Conventional
Special Listing Condition Standard
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Bought with KEVIN KWAN • CENTURY 21 CRISTAL CELLAR
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Tracy Thrower Conyers
Broker Associate, JD | License ID: 01712960
Broker Associate, JD License ID: 01712960